CAC 40 Marginally Higher As Luxury Stocks Gain On China Data
(RTTNews) - French stocks were little changed on Wednesday as improved economic readings from China offset worries about a worsening situation in the Middle East.
The benchmark CAC 40 was marginally higher at 7,036 after ending little changed in the previous session.
China-exposed luxury firms such as LVMH, Kering and Hermes International all rose about 1 percent after a slew of China data came in above forecasts.
Data showed China's GDP grew at a 4.9 percent annual pace in July-September, down from 6.3 percent in the previous quarter but above forecasts for a 4.4 percent increase.
Retail sales and industrial output figures for September also surprised on the upside, helping ease investor anxiety over the attainability of the official GDP target this year.
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